Chinese smartphone manufacturer Realme becomes the fastest growing brand to reach the 50 million smartphone sales milestone in only nine months, according to Counterpoint’s Q3 2020 smartphone shipment report.
In addition to the sales milestone, Realme recorded quarterly shipments of 14.8 million, becoming the world’s fastest-growing brand in Q3 with 132% quarterly growth, surpassing analysts’ expectations.
Realme’s success and strong momentum is largely piggybacked onto young users across the world, which make up the bulk of its customer base.
“Realme grew to become one of the top 5, or even top 3, brands in its key markets, including India, Indonesia, Bangladesh, Philippines and some other Southeast Asian countries”, said Counterpoint Research Analyst Abhilash Kumar.
Realme aims to sell products with an affordable price, premium performance and trendy design that resonate with young consumers. In addition to its ability to offer a smooth digital shopping experience and after-sales services, Realme has emerged as the most resilient brand during and after the pandemic, Kumar said.
“At Realme, we live out our philosophy of daring to leap into the forefront of innovation, design and product value, which is something young people can identify with,” Realme’s CEO Sky Li said.
As a young company, Realme has won five top international design awards and collaborated with world-class designers on its products through the Realme Design Studio. Realme has also led on technological innovation, as one of the first companies to feature the Snapdragon 865/765G processor and 64MP camera on a smartphone.
These innovations have enabled Realme to introduce 5G-enabled smartphones to young consumers, gaining international recognition.
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Just like its young clientele, Realme has shown eagerness and ambition in its global expansion into 61 markets. In just two years, Realme ranks seventh globally and among the top 5 brands in more than 13 global markets.
The company has expanded quickly to offer a variety of AI of Things (AIoT) products such as smart audio, visual and lifestyle products to complement the increasingly connected digital world, which have quickly become popular around the world. In India, Realme sold over 1 million individual smart audio devices, ranking first in market share in Q2 2020. Realme has released over 50 AIoT products in 2020 so far, with plans to double that number in 2021.